What does social security personal account mean?

Personal social security account means that the social insurance agency establishes a social security number for each person who participates in social endowment insurance according to the State Bureau of Technical Supervision, and records the endowment insurance premium transferred by the unit according to the regulations and all the endowment insurance premiums paid by the individual, which serves as the basis for calculating and distributing the endowment insurance premium in personal account when the person who participates in social endowment insurance retires.

Social security personal account: an individual account opened by an independent natural person in a local social security center with social insurance as welfare benefits.

Personal social security accounts are divided into medical accounts and pension accounts. Others include (maternity, work injury, unemployment, etc.). Are stored in the social security center).

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.